PagSeguro Digital (NYSE:PAGS) Shares Gap Down – Here’s Why

PagSeguro Digital Ltd. (NYSE:PAGS) gapped down before the market opened on Thursday . The stock had previously closed at $6.92, but opened at $6.59. PagSeguro Digital shares last traded at $6.67, with a volume of 442,717 shares.

Wall Street Analyst Weigh In

A number of analysts have commented on PAGS shares. Cantor Fitzgerald raised shares of PagSeguro Digital to a “strong-buy” rating in a research report on Thursday, October 3rd. The Goldman Sachs Group decreased their target price on PagSeguro Digital from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Itau BBA Securities downgraded shares of PagSeguro Digital from an “outperform” rating to a “market perform” rating and set a $12.00 price objective for the company. in a research report on Tuesday, October 1st. Barclays lowered their price objective on shares of PagSeguro Digital from $16.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. cut their target price on shares of PagSeguro Digital from $16.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.18.

PagSeguro Digital Price Performance

The firm has a market cap of $2.21 billion, a P/E ratio of 5.55, a P/E/G ratio of 0.40 and a beta of 1.94. The company has a fifty day moving average of $7.08 and a 200-day moving average of $9.37.

Institutional Trading of PagSeguro Digital

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SPX Gestao de Recursos Ltda purchased a new position in PagSeguro Digital during the 3rd quarter valued at about $38,151,000. Marshall Wace LLP increased its position in shares of PagSeguro Digital by 55.5% in the second quarter. Marshall Wace LLP now owns 6,994,870 shares of the company’s stock worth $81,770,000 after purchasing an additional 2,497,968 shares during the last quarter. Millennium Management LLC raised its stake in PagSeguro Digital by 115.1% in the second quarter. Millennium Management LLC now owns 3,813,901 shares of the company’s stock valued at $44,585,000 after purchasing an additional 2,040,704 shares in the last quarter. State Street Corp lifted its position in PagSeguro Digital by 50.8% during the third quarter. State Street Corp now owns 5,908,054 shares of the company’s stock valued at $50,868,000 after purchasing an additional 1,990,849 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in PagSeguro Digital by 26.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 5,478,310 shares of the company’s stock worth $47,168,000 after buying an additional 1,144,590 shares in the last quarter. 45.88% of the stock is currently owned by institutional investors.

PagSeguro Digital Company Profile

PagSeguro Digital Ltd., together with its subsidiaries, provides financial technology solutions and services for consumers, individual entrepreneurs, micro-merchants, and small and medium-sized companies in Brazil and internationally. The company's products and services include PagSeguro Ecosystem, a digital ecosystem that operates as a closed loop where its clients are able to address their primary day to day financial needs, including receiving and spending funds, and managing and growing their businesses; PagBank digital account, which offers payment and banking services through the PagBank mobile app, as well as centralizes various cash-in options, functionalities, services, and cash-out options in a single ecosystem; and PlugPag, a tool for medium-sized and larger merchants that enables them to connect their point of sale (POS) device directly to their enterprise resource planning software or sales automation system through Bluetooth.